The MongCoin price is practically flat near the one-month lows on Wednesday, consolidating losses after falling for the 8th consecutive day. The bears had a strong grip after the price failed to stay above the 50-Day EMA.
Moreover, the price received some buying volume in the morning session to show gains which was later wiped out by the selling wave that arose in the afternoon. By the time of writing, MONG crypto was at $0.0000000145 with an intraday loss of over 2%.
The bulls are continuously losing due to which sellers are dragging the price to retrace low levels. The price stands at a weekly drop of nearly 9% and a monthly loss of 49.25%. However, the price performance over the past 3 months has been positive, showing a gain of over 92%.
MongCoin Crypto Price Technical Analysis
The broader term outlook is negative as the price lies below the key EMAs of 200 days. The recent months have experienced upthrust in the price which helped the MONG price recover the earlier losses.
However, the price currently trades near the previous breakout zone due to which the recent support may act as a crucial role in deciding a clear trend outlook.
As per our analysis, the price may tend to maintain a mild bullishness and has further potential to rise until it hovers above the recent supports of $0.0000000145 and $0.0000000125.
Furthermore, if the price traverses below the above stated support zones, it may invalidate further upside potential and the price may show decline in the short term.
The technical indicators EMAs imply a bearish outlook in the short term as well as long term. At the time of writing, the RSI line was at 41.97 below the mean line suggesting consolidation. The SMA line was at 45.37 showing a bearish crossover of RSI line suggesting weakness in the trend.
MongCoin Price Prediction January 2024
As per the most optimistic view of our analysts, the MONG price could reach a high of $0.0000000171 by the end of the month. The bearish view of the analysts hopes for a breakdown below the recent support, after which the price may drop to a low of $0.0000000124.
MongCoin Price Prediction 2024
The analysts have a wide range of price targets for 2024. The most optimistic view of analysts assumes the MONG crypto could attain a high of $0.0000000229 suggesting a potential gain of over 57.23%. The lower price target which the crypto could attain as per the analysts is $0.0000000190.
MongCoin Price Prediction 2025
On the most bullish observation, MongCoin crypto could hit the high mark of $0.0000000285 in 2025. On the flip side, the most pessimistic prediction of our analysts is the $0.0000000230 mark.
MongCoin Price Prediction 2026
An optimistic perspective suggests MongCoin crypto could reach a high of $0.0000000374 in 2026. On the other hand, the most pessimistic prediction of our analysts is that the price would reach $0.0000000289.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2024/01/17/mongcoin-price-fails-to-gain-buyers-trust-will-it-drop-further/